With so much attention focused on improving the operational efficiency of oil and gas production, it is too easy to forget that it all begins with exploration. One company that has built its success on smart and targeted exploration is Exxon Mobil Corp. so asking Michael Cousins, the major’s senior vice president, exploration and new ventures, to define success in hydrocarbon explorations seem an excellent place to start.

“I would say Liza in Guyana represents success, Zohr in Egypt represents success, Glaucus in Cyprus represents success,” Cousins said. “I would put to you that success in exploration comes from two things. It comes from identifying and capturing opportunities, way ahead of your competition. Then managing that inventory and portfolio to the best of your ability, making sure you do not walk too early from these opportunities, make sure that you see them through.”

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